Magellan evaluates new Texas oil pipeline

Reuters Staff

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NEW YORK, May 3 (Reuters) - Magellan Midstream Partners LP is evaluating a new pipeline to transport crude and condensate from the Permian Basin to Corpus Christi in Texas, its top executive said during a company earnings call on Wednesday.

The new pipeline would join a number of other midstream players looking to grow in the largest U.S. shale play.

Magellan also said it was evaluating a further expansion of its 300,000 barrel per day BridgeTex crude pipeline, which flows from the Permian Basin to the Houston area, to 475,000 bpd. The current expansion up to 400,000 bpd is expected to be operational by the end of the second quarter. (Reporting by Catherine Ngai; Editing by Chizu Nomiyama)